At the beginning of the current season on April 1, the ledger of Metlock, Inc. Shop showed Cash $1,800, Inventory $2,400, and Common Stock $4,200. The following transactions were completed during April 2022. Apr. 5 Purchased golf discs, bags, and other inventory on account from Arnie Co. $1,200, FOB shipping point, terms 2/10, n/60.
7 Paid freight on the Arnie purchase $50. 9 Received credit from Arnie Co. for merchandise returned $100.
10 Sold merchandise on account for $980, terms n/30. The merchandise sold had a cost of $588.
12 Purchased disc golf shirts and other accessories on account from Woods Sportswear $640, terms 1/10, n/30.
14 Paid Arnie Co. in full, less discount.
17 Received credit from Woods Sportswear for merchandise returned $40.
20 Made sales on account to members for $700, terms n/30. The cost of the merchandise sold was $400.
21 Paid Woods Sportswear in full, less discount.
27 Granted an allowance to members for clothing that did not fit $10.
30 Received payments on account from members $930.

The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of goods sold.

Required:
Journalize the abov entires.

The simple interest in a loan of $200 at 10 percent interest per year is

Exercise 18-15 sheffield appliance center is an experienced home appliance dealer. sheffield appliance center also offers a number of services for the home appliances that it sells. assume that sheffield appliance center sells ovens on a standalone basis. sheffield appliance center also sells installation services and maintenance services for ovens. however, sheffield appliance center does not offer installation or maintenance services to customers who buy ovens from other vendors. pricing for ovens is as follows. oven only $790 oven with installation service 850 oven with maintenance services 970 oven with installation and maintenance services 990 in each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $180. additionally, the incremental amount charged by sheffield appliance center for installation approximates the amount charged by independent third parties. ovens are sold subject to a general right of return. if a customer purchases an oven with installation and/or maintenance services, in the event sheffield appliance center does not complete the service satisfactorily, the customer is only entitled to a refund of the portion of the fee that exceeds $790. assume that a customer purchases an oven with both installation and maintenance services for $990. (b) indicate the amount of revenue that should be allocated to the oven, the installation, and to the maintenance contract.

Determine if the following statements are true or false. an increase in government spending can crowd out private investment. an improvement in the budget balance increases the demand for financial capital. an increase in private consumption may crowd out private investment. lower interest rates can lead to private investment being crowded out. a trade balance in sur+ increases the supply of financial capital. if private savings is equal to private investment, then there is neither a budget sur+ nor a budget deficit.